In a recently published report on the Chinese seafood market, London, U.K.-based market research firm Euromonitor International found that consumption of high-end, premium species has held strong in the country, but consumer anxiety over the state of both the domestic and global economies has cratered the sales of mid-priced seafood.
But, with many consumers aiming to save money, sales of low-priced, cheaper species have spiked.
“In terms of cost considerations, economic uncertainty has made consumers more price-sensitive, leading to some polarization in demand,” the firm said.
Euromonitor further explained that “high-end consumption has supported the growth of crustacean products,” but some price-sensitive consumers “tend to choose more economical fish species in retail channels or wait for promotions to make a purchase, which has, to some extent, curbed retail growth.”
While noting that seafood sales in China have enjoyed “overall growth,” sales patterns are shifting due to several factors, including “cost considerations, climate change, and price hikes, together with the need for convenience when cooking,” Euromonitor told SeafoodSource in a statement.
Euromonitor is projecting that, in a break from historical trends in China, processed seafood is anticipated to outperform other categories, with its retail sales by volume and value projected to grow.
“Historically, processed seafood and alternatives have contended with a perception of being unhealthy among many Chinese consumers, often being criticized for low meat content, high starch levels, and reliance on artificial additives,” Euromonitor said.
However, processing companies have been increasing the percentage of real seafood meat they use, and together with the rise of convenience food and pre-cooked meals, the category is expected to continue growing.
As a result, Euromonitor is projecting retail sales of fresh and processed seafood in China will rise from USD 93.8 billion (EUR 80.5 billion) in 2025 to USD 98.8 billion (EUR 84.8 billion) by 2027 and USD 102.7 billion (EUR 88.16 billion) by 2028. The volume of seafood consumed in the country is projected to grow from 45.6 million tons in 2025 to 47.06 million tons in 2027 and 47.6 million tons in 2028, according to Euromonitor.
The only source of consumption for which Euromonitor is predicting a fall is seafood sales to schools and hospitals, which the firm projects will fall from 4.16 million tons in 2025 to 3.9 million tons by 2028.
Several Chinese companies are aiming to take more advantage of the domestic market, especially as trade disruptions like tariffs have made international commerce more challenging.
For instance, in September of last year, Chinese seafood firm Zhangjiang Guolian Aquatic Products announced plans to supply shrimp and tilapia to domestic restaurant operator Yum China.
“Many companies now much prefer to sell domestically,” Didier Boon, the head of Beijing, China-based East China Seas, which sources shrimp and tilapia for export, said of the supply deal. “A huge benefit is immediate cash. For export, you wait 60 to 90 days from the time of production until cash in the bank. Domestically, you wait until production is finished and then receive the cash in two weeks.”
